A method and an apparatus for continuously producing particles from an emulsion by supercritical fluid extraction. The emulsion includes a solute suspended or dissolved in the supercritical fluid soluble first phase. The supercritical fluid and the emulsion contact each other such that the first phase dissolves from the emulsion into the supercritical fluid and the solute precipitates to form a suspension in a non supercritical fluid soluble second phase of the emulsion. The supercritical fluid carries away the dissolved first phase. The solvent bearing supercritical fluid, together with the solute suspended in the second phase, is removed from an extraction chamber at a rate that is about the same as a rate that the emulsion and the supercritical fluid flow into the extraction chamber. Thus, a constant mass and pressure is maintained in the extraction chamber and the particles are produced continuously.